Genoil Inc.

Genoil Inc.

March 03, 2005 12:56 ET

Interview with Genoil CEO, David Lifschultz, Broadcast on CEOCAST.com


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GENOIL INC.

TSX VENTURE SYMBOL: GNO
OTC Bulletin Board SYMBOL: GNOLF

MARCH 3, 2005 - 12:56 ET

Interview with Genoil CEO, David Lifschultz, Broadcast
on CEOCAST.com

CALGARY, ALBERTA--(CCNMatthews - March 3, 2005) - Genoil (TSX
VENTURE:GNO) (OTCBB:GNOLF) Chairman and Chief Executive Officer, Mr.
David Lifschultz was interviewed today on CEOCAST.com. The interview can
be accessed under the following weblink:

www.CEOCAST.com

To access the interview, please complete the free registration at
CEOCAST.com. After completing the registration, click on "Genoil Inc."
on the upper right corner of the page, this will link to the interview.

In this interview, Mr. Lifschultz discusses Genoil's current commercial
projects in addition to providing a description of Genoil's upgrading
process which can offer better use of domestically produced heavy
hydrocarbons, alleviating dependence on Middle Eastern supplies.

About Genoil

Genoil Inc. is an international technology development company providing
solutions to the oil and gas industries through the use of proprietary
technologies, which represent significant breakthroughs in commercial
applications. The company's flagship product, the Genoil Hydroconversion
Upgrader (GHU), combines hydrogen with carbon in order to convert
bitumen, heavy oil and refinery residue into light, sweet synthetic oil
with higher yields of transportation fuels. The GHU also eliminates a
majority of contaminants such as sulphur and nitrogen from the feed, and
can either be easily integrated into existing refinery infrastructures
or be built as a stand alone unit. Genoil believes that by upgrading the
13 million bbls/d of refinery residuals into lighter distillates, the
dependency of the world on Middle Eastern light oil can be significantly
decreased. The company is headquartered in Alberta, Canada with offices
in New York, Mexico, Columbia, Ecuador, Peru, Russia, Saudi Arabia, and
Bahrain, with coverage in numerous other countries. To learn more about
Genoil, visit www.genoil.net.

Statements included in this release may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements involve a number of risks and
uncertainties such as competitive factors, technological development,
market demand, and the company's ability to obtain new contracts and
accurately estimate net revenues due to variability in size, scope and
duration of projects, and internal issues in the sponsoring client.
Further information on potential risk factors that could affect the
company's financial results can be found in the company's Reports filed
with the Securities and Exchange Commission.

ADVISORY: Certain information regarding the company, including
management's assessment of future plans and operations, may constitute
forward-looking statements under applicable securities law and
necessarily involve risks associated with oil and gas exploration,
production, marketing and transportation such as loss of market,
volatility of prices, currency fluctuations, imprecision of reserve
estimates, environmental risks, competition from other producers and
ability to access sufficient capital from internal and external sources;
as a consequence, actual results may differ materially from those
anticipated. The company assumes no obligation to update the
forward-looking statements or to update the reasons why actual results
could differ from those contemplated by the forward-looking statements.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Genoil Inc.
    David Lifschultz
    Chairman & CEO
    (212) 688-8868 (office)
    (914) 393-5800 (cell)
    Website: www.genoil.net
    The TSX Venture Exchange has neither approved nor disapproved of the
    information contained herein.